Swiggy Raises $210 Million In Fresh Funding From Naspers, DST Global

Online food delivery start-up Swiggy announced it had raised $210 million in its latest round of funding led by existing investor Naspers and new investor DST Global.

The latest investment follows a $100 million Series F round in February, also led by Naspers with participation of China’s Meituan-Dianping.

The company said it would also double its technology headcount to build for robust operations, deep personalization and connected supply chain systems. The start-up would invest in core capabilities that enhance consumer experience and the brand.

Swiggy CEO, Sriharsha Majesty said in a statement that “We will continue to widen Swiggy’s offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem,”.

While Swiggy and Zomato are dominating this market, “Uber Eats and Ola-owned Foodpanda would also take the slice of this pie when they scale up,” said Ujjwal Chaudhry, engagement manager at the RedSeer Consulting.

According to a study, the online food delivery market in India which was $0.3 billion in 2016 is expected to touch $4 billion in 2020, according to RedSeer.

“Swiggy is transforming the way food is delivered in India,” said Saurabh Gupta, Managing Partner at DST Global, in a statement.

“This infusion of capital… ensures that ambitious plans for broadening their platform and expanding their reach across India will be realized,” said Larry Illg, CEO of Naspers Ventures.

Hello, this is Bibhu Prasad. A professional blogger and content writer. I love to explore new things every day. Don't hesitate to do the work that you loves to do and stop comparing yourself with others. You are unique. We have got one life, so why not live it with happiness.